- Published: May 2012
- Region: New York, United States
Research Update: Blue Buffalo Co. Assigned Preliminary 'B' Rating, Stable Outlook; New Term Loan Will Fund Special Shareholder Dividend Jul 12
- Published: July 2012
- Standard & Poors
U.S.-based pet food company Blue Buffalo Co. Ltd. is entering into a new senior secured credit facility with the intent of using term loan proceeds to fund a special shareholder dividend. We are assigning a preliminary 'B' corporate credit rating to Blue Buffalo, and a preliminary 'B+' issue-level rating to the company's proposed $470 million senior secured credit facility with a recovery rating of '2'. The outlook is stable, reflecting our expectation that Blue Buffalo will maintain adequate liquidity and improve its credit measures over the near term. On July 17, 2012, Standard & Poor's Ratings Services assigned its preliminary 'B' corporate credit rating to Wilton, Conn.-based Blue Buffalo Co. Ltd., a manufacturer and marketer of pet food. The outlook...
Companies mentioned in this report are: Blue Buffalo Company, Ltd
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Blue Buffalo Company, Ltd